| ||Fri Apr 28, 2017|
CASSIDY GOLD CORP. ANNOUNCES SHAREHOLDER APPROVAL OF A SHARE CONSOLIDATION TO EFFECT A GOING PRIVATE TRANSACTION
| ||Cassidy Gold Corp. ("Cassidy" or the "Company") announces that, at the special meeting of shareholders held today, shareholders approved the proposed consolidation of the Company's outstanding common shares on the basis of one post-consolidated common share for each 6,000,000 pre-consolidated common shares (the "Consolidation") and the voluntary delisting of the Company's common shares from trading on the TSX Venture Exchange. In accordance with the Cassidy's Articles, the Consolidation was approved by a majority of its shareholders voting at the meeting. Further and in accordance with securities legislation and the policies of the Exchange, the Consolidation and delisting was approved by a majority of Cassidy's minority shareholders, who voted at the meeting.|
The Consolidation and delisting will, if and when effected, result in a going private transaction. The proposed going private transaction was previously announced by Cassidy by news releases dated February 2 and March 13, 2017. Details of Consolidation and resultant going private transaction are included in the Company's Information Circular dated March 24, 2017, which was prepared in connection with the April 28th special shareholder meeting and has been electronically filed by Cassidy with regulators and is available for viewing under Cassidy's issuer profile on the SEDAR website (www.sedar.com).
Completion of the Consolidation is subject to a number of conditions, certain of which are beyond Cassidy's control and, as such, there is no assurance that all of the conditions will be satisfied or, if satisfied, when the transactions contemplated by the Consolidation, including delisting, will complete. Accordingly, the exact timing for effecting the Consolidation is not currently known, however, it is Cassidy's intention to effect the Consolidation as soon as practical once all conditions and approval requirements have been met.
As soon as an effective date for the Consolidation has been determined, notice thereof will be disseminated by Cassidy by news release.
About Cassidy Gold Corp.
Cassidy is a Canadian mineral development company focused on gold discovery in the Republic of Guinea, West Africa. The Company owns a 100% interest, subject to a 15% state participation, in the Kouroussa Gold Project in the Republic of Guinea.
For additional information, please contact:
James T. Gillis, President
Telephone: (250) 574-5011
This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Cassidy Gold Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Cassidy Gold Corp.'s management on the date the statements are made. Except as required by law, Cassidy Gold Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
You can view the Previous News Releases item: Mon Mar 13, 2017, CASSIDY GOLD CORP. ANNOUNCES DATE FOR SHAREHOLDING MEETING TO APPROVE GOING PRIVATE TRANSACTION